Wall Street Journal
February 22, 2011
European Central Bank Governing Council member Athanasios Orphanides said in an interview that further rises in food and energy prices could keep inflation above 2% for longer than expected and that the ECB will “act as appropriate” to maintain price stability in the 17 countries that use the euro.
Speaking with Dow Jones Newswires, Mr. Orphanides also discussed the euro zone and said Portugal could run into even deeper fiscal trouble, with negative implications for other nations in the currency bloc, if euro-zone leaders don’t accelerate steps to improve how the currency bloc is managed.
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